Searchlight Minerals Corp. to reschedule Annual Shareholders' Meeting date

    HENDERSON, NV, July 3 /CNW/ - Searchlight Minerals Corp. (OTC BB: SRCH)
(the "Company"), a minerals exploration company focused on the acquisition and
development of projects in the southwestern United States, today announced
that it will reschedule the date for its 2008 Annual Shareholders' Meeting.
    As a result of a request by the Securities and Exchange Commission
("SEC") to be given an opportunity to review and comment on the Company's
pending Registration Statement on Form S-1, the Company has requested that the
SEC delay its comments on the Preliminary Proxy Statement that was filed by
the Company on June 20, 2008. Because this will delay the filing of the
Company's Definitive Proxy Statement, the Company will be unable to host its
Annual Shareholders' Meeting on the previously scheduled date of July 31,
2008. A new date for the Annual Meeting will be announced as soon as the
Definitive Proxy Statement has been filed with the SEC.
    "Because of the time required for the SEC to review our pending
Registration Statement, we will need to set a new date for our Annual
Shareholders' Meeting," stated Ian McNeil, Chief Executive Officer of
Searchlight Minerals Corp. "We intend to reschedule the Annual Meeting at the
earliest date possible, and we look forward to visiting with many of our
shareholders at the meeting. Meanwhile, the Company will continue to provide
shareholders and other investors with periodic updates regarding developments
and activities at its Clarkdale Slag Project and Searchlight Gold Project
whenever such updates are warranted. We also recommend that investors review
our corporate presentation as filed with the SEC on May 6, 2008, and visit our
website ( for postings of news releases and other
corporate information."

    About Searchlight Minerals Corp.

    Searchlight Minerals Corp. is a minerals exploration company focused on
the acquisition and development of projects in the southwestern United States.
The Company is currently involved in two projects: (1) the Clarkdale Slag
Project, located in Clarkdale, Arizona, is a reclamation project to recover
precious and base metals from the reprocessing of slag produced from the
smelting of copper ores mined at the United Verde Copper Mine in Jerome,
Arizona; and (2) the Searchlight Gold Project, which involves exploration for
precious metals on mining claims near Searchlight, Nevada. The Clarkdale
Project is the more advanced of two ongoing projects that the Company is
pursuing. The Searchlight Gold Project is an early-stage gold exploration
endeavor on 3,200 acres located approximately 50 miles south of Las Vegas,
    Searchlight Minerals Corp. is headquartered in Henderson, Nevada, and its
common stock is listed on the OTC Bulletin Board under the symbol "SRCH".
Additional information is available on the Company's website at and in the Company's filings with the U.S.
Securities and Exchange Commission.

    Forward-Looking Statements

    This Press Release may contain, in addition to historical information,
forward-looking statements. Statements in this news release that are
forward-looking statements are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk Factors" and
elsewhere in the Company's periodic filings with the U.S. Securities and
Exchange Commission. When used in this news release, the words such as
"could", "plan", "estimate", "expect", "intend", "may", "potential", "should",
and similar expressions, are forward-looking statements. The risk factors that
could cause actual results to differ from these forward-looking statements
include, but are not restricted to the Company's limited operating history,
uncertainties about the availability of additional financing, geological or
mechanical difficulties affecting the Company's planned geological or other
work programs, uncertainty of estimates of mineralized material, operational
risk, environmental risk, financial risk, currency risk and other statements
that are not historical facts as disclosed under the heading "Risk Factors"
and elsewhere in the Company's periodic filings with securities regulators in
the United States. Consequently, risk factors including, but not limited to
the aforementioned, may result in significant delays to the projected or
anticipated production target dates.

For further information:

For further information: Carl Ager, Vice President, at (702) 939-5247,
or via email at; or RJ Falkner & Company Inc.,
Investor Relations Counsel, at (800) 377-9893, or via email at

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